Cybercrime is poised to jeopardize Canada’s security and prosperity.
A new report released on Monday by the Canadian Centre for Cyber Security (CCCS) cautions that within the upcoming two years, organized cybercrime factions are anticipated to present a significant menace to the security and economy of the nation. The report underscores that ransomware attacks have presently emerged as the most perturbing variant of cyber assault encountered by Canada. It additionally alerts that cybercriminals targeting Western objectives are utilizing Russia and, to a lesser degree, Iran as refuges for their activities.
In a press briefing regarding the report on Monday, representatives from the government revealed that malevolent hackers are directing their efforts towards crucial sectors of the economy, including education, energy, utilities, and healthcare facilities.
As highlighted in the report, fraudulent activities and online scams persist as the prevailing manifestations of cybercrime. In the previous year, Canadian citizens disclosed over 70,000 cases of fraud, which were connected to an estimated total of more than $530 million supposedly pilfered from both companies and individuals.
Officials underscored that merely around 10 percent of those targeted actually report such cyberattacks, implying that the mentioned $530 million value might be a conservative estimation.
As indicated in the report, ransomware assaults, where hackers threaten to expose sensitive data or restrict its access until a ransom is paid, are being directed at organizations and industries without any apparent pattern.
The sectors predominantly impacted were manufacturing, accounting for 18 percent of the attacks in 2022, and business and professional services, accounting for 14 percent of the attacks.
Other segments of the economy that experienced notable ransomware attacks in 2022 included the health care and pharmaceutical sector (constituting 7 percent of the total attacks), information technology and the retail sector (both at 8 percent), as well as the non-governmental organization and education sectors (accounting for 7 percent of all incidents).
Hospitals In Danger
According to the report, cyberattacks have eroded the capability of hospitals to provide adequate patient care, resulting in extended hospital stays, postponed tests and procedures, complications arising from medical interventions, and, in certain instances, heightened mortality rates.
As an illustration, in October 2021, the health care system of Newfoundland and Labrador encountered a ransomware attack that triggered an IT outage affecting 10 percent of patients in the province, with a financial toll of $16 million on the system.
Additionally, the Canada Revenue Agency conveyed to CBC News that a breach targeting the file-sharing platform MOVEit earlier this year did encompass files associated with the agency. However, the majority of the information either had public accessibility or was safeguarded by password encryption.
“Thanks to these additional safeguards being in place, the CRA has no reason to believe that any CRA information has been compromised,” the CRA said.
The MOVEit platform is globally utilized by both public and private sector entities for the exchange of personal information in domains including healthcare, finance, and government services.
